Is it Possible to Disable 'Permanently Closed' Option in Control Purchasing Periods? (Doc ID 2321615
The below note id explains that there is no standard way to disable or remove it.
There is no supported option available to disable or remove the 'Permanently Closed' option in the Control Purchasing Periods page. A customization or personalization would be needed to prevent users from selecting this option from the list of values (LOV).
Could you please let us know the detailed steps how to achieve this requirement through personalization or customization (12.2.5)?